Swiss bank BCP says halts all new business with Iran

LONDON – Swiss lender Banque de Commerce et de Placements (BCP) has dangling new exchange with Iran and is circuitous down activities with a nation after US President Donald Trump’s pullout from a chief understanding with Tehran, a bank pronounced on Tuesday.

“We have dangling any new transaction associated to Iran after May 8, 2018 and started a ‘wind down period’ within a horizon of OFAC announcement,” a bank pronounced in a emailed matter to Reuters, referring to a US Treasury’s sanctions coercion arm.

Trump’s withdrawal from a settle on May 8 was announced in tandem with a re-imposition of US sanctions within 180 days, call several European companies to announce their exit from Iran.